3. 'Channel Stuffing' In early 2006, MSY announced that it sent as much as $14 million worth of education support software products into wholesalers' warehouses in late 2005 despite no orders having been received. This was recorded as revenue in 2005. The company's cost of sales percentage on these products was 30 per cent. The company's marginal tax rate for 2005 was 30 per cent. Exhibit 1.pdf Propose journal entries to restate the transactions described under 'channel stuffing' of MSY